Quintis Ltd shares to remain suspended until February

It has been a staggering eight months since the Quintis Ltd (ASX: QIN) share price was last active on the share market.

And unfortunately for its many disgruntled shareholders, it looks like it will be at least another month until they have an opportunity to jump ship.

In late November the embattled sandalwood plantation manager advised that it expected to come out of its voluntary suspension today (January 15), but according to an announcement released this morning, this is not expected to be the case now until February 15.

This is due to ongoing discussions with more than one party in relation to potential debt and equity transactions that would have the effect of achieving a recapitalisation of the company.

Management believes that the reinstatement of trading in the company’s shares before the completion of these transactions could potentially mean that the market would not be trading on an informed basis.

Furthermore, as part of the transactions involve equity elements, the company is concerned that share price volatility could materially prejudice the capacity to conclude these transactions.

Which I think is reasonably fair considering failure to negotiate and complete the transactions could threaten its continued solvency.

However, it is still a bitterly disappointing situation for shareholders. Not only have they seen their holdings lose significant value, but they have been unable to get this money out to reinvest elsewhere in the market.

But they are not alone. The shares of Henry Morgan Limited (ASX: HML) have also been suspended since early June.

Whenever the two aforementioned shares do return to the market, I would suggest that investors stay well clear of them.

Instead, investors might want to consider shares such as Aristocrat Leisure Limited (ASX: ALL) and Ramsay Health Care Limited (ASX: RHC) which have strong management teams, growing businesses, and the potential to provide market-beating returns over the long-term.

Alternatively, these high-flying blue chip shares could be even better options for investors.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.